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Investors can still find discounts even as stocks climb to fresh all-time highs . Both the S & P 500 and the Dow Jones Industrial Average reach new records on Friday, surpassing previous highs notched just a day earlier. The stock has about 12% over the past month and nearly 11% from the start of the year. American Airlines stock currently trades at a forward price-to-earnings (P/E) multiple of 5.8 overall, slightly lower than the industry average. AAL YTD mountain American Airlines stock.
Persons: Stephen Trent Organizations: Dow Jones, Nvidia, CNBC, Airlines, American Airlines, FactSet, Citi, Exxon Mobil, Wall, Exxon, Resources, General Motors, CVS Health
Both companies later breached $3 trillion in market valuation, but, as of Friday, only Microsoft remains above it, at roughly $3.07 trillion. Apple's market cap stands at around $2.8 trillion. After more than tripling in 2023, Nvidia's stock has soared more than 60% already in 2024. In February alone, Nvidia's market cap has swelled by nearly $500 billion. At that time, Nvidia's market cap stood at $583.5 billion.
Persons: ChatGPT, , Microsoft —, Jim Cramer's, Jim Cramer, Jim, Jensen Huang, Tom Williams Organizations: Nvidia, Apple, Microsoft, Exxon Mobil, Google, CNBC, CQ, Inc, Getty Locations: U.S
That might seem steep in a case with no victim calling for redress and no star witness pointing the finger at Mr. Trump. But a little-known 70-year-old law made the punishment possible. The law, often referred to by its shorthand, 63(12), which stems from its place in New York’s rule book, is a regulatory bazooka for the state’s attorney general, Letitia James. In the Trump case, Ms. James accused the former president of inflating his net worth to obtain favorable loans and other financial benefits. Mr. Trump, she argued, defrauded his lenders.
Persons: Donald J, Trump, Letitia James, Martin Shkreli, James Organizations: Exxon Mobil, pharma Locations: New York, New
Diamondback Energy took one of the last major, privately held operators in the Permian off the table this week when it agreed to buy Endeavor Energy Resources for $26 billion. The deal is poised to catapult Diamondback into the top tier in the Permian, the most prolific oil patch in the U.S. that stretches from western Texas into southeastern New Mexico. The top six companies in the Permian are set to own 62% of the basin's remaining oil reserves, according to Rystad Energy. The stubborn holdouts After the Diamondback-Endeavor and Occidental-CrownRock deals, the only other major privately held producers left in the Permian are Continental Resources and Mewbourne Oil. Conoco could potentially seek to acquire Permian Resources , Civitas , Coterra, Vital Energy or Ovintiv , Bernstein said.
Persons: Matthew Bernstein, Bernstein, Hess, Andy Lipow, Neal Dingmann, Mewbourne, Dingmann, Ovintiv, Enerplus, Bob Yawger, Yawger, weren't, Ryan Lance, Lance, Conoco, EOG Organizations: Diamondback Energy, Endeavor Energy Resources, Diamondback, Exxon Mobil, Chevron, Rystad Energy, Truist Securities, CRFA Research, Endeavor, CNBC, Exxon, Natural Resources, Occidental, Lipow Oil Associates, Resources, Mewbourne, Continental, Publicly, Civitas, Coterra, Vital Energy, Devon Energy, Marathon Oil, Bloomberg News, Marathon, Reuters, CFRA, ConocoPhillips, Mizuho Locations: U.S, Texas, New Mexico, Guyana, Devon, Bakken, North Dakota, Occidental, Mizuho Americas, Marathon
Diamondback Energy will attempt to buy rival Endeavor Energy Resources to create an energy giant in the Southwestern United States worth more than $50 billion. A tie-up between Diamondback and Endeavor, if it succeeds, would create a player in the massive Permian Basin oil and gas field that straddles Texas and New Mexico. Photos You Should See View All 22 ImagesEndeavor is the largest private operator in the Permian Basin. Lower oil prices are good for U.S. drivers, as it means they'll pay less at gas pumps. Shareholders of Diamondback Energy Inc. will own about 60.5% of the combined company, while Endeavor’s equity holders would own approximately 39.5%.
Persons: Hess, Diamondback, Travis Stice, ” Stifel's Derrick Whitfield, ” Stice Organizations: Diamondback Energy, Endeavor Energy Resources, Southwestern United, Exxon Mobil, Mobil, Diamondback, Endeavor, Exxon, Chevron, Drillers, OPEC, U.S, International Energy Agency, Diamondback Energy Inc, Chesapeake Energy, Southwestern Energy, Occidental Locations: Southwestern United States, U.S, Texas, New Mexico, United States, Israel, Midland , Texas
One of Wall Street's favorite employee leverage tactics — non-compete agreements — is facing a major threat, and there could be far-reaching implications for how the financial industry does business. But it's also clear that Wall Street firms are under particular attention for the practice. With major Wall Street firms already having among the most unpopular back-to-work policies in the market, "Wall Street is already in a position where they are recognizing they don't have all the hands they had before," Chamberlin said. Shore recommends Wall Street firms undertake a thorough competitive analysis at every level in every department to ensure they are market competitive. Even if the FTC rule goes through, Wall Street firms still have options to protect their business.
Persons: Charles Scharf, Wells, Brian Thomas Moynihan, Jamie Dimon, JPMorgan Chase, Jane Fraser, Ronald O’Hanley, Robin Vince, BNY Mellon, David Solomon, Goldman Sachs, James Gorman, Morgan Stanley, General Mills, , Wall, it's, Kathy Hochul, that's, Covid, Laurie Chamberlin, Chamberlin, Lina Khan's, Khan, It's, David Fisher, Gilbert, Fisher, Juan A, Crowell, Arteaga, Paul ​ Webster, Matt Shore, Kareem Bakr, Webster, Leslie John, Ballard Spahr, John Organizations: Company, Bank of America, JPMorgan, Citigroup, BNY, Google, Apple, Pfizer, Exxon Mobil, General Electric, Procter, Gamble, Nike, Economic, Institute, Federal Trade Commission, North America, American College of Emergency Physicians, Davis, FTC, Supreme, Industry, Moring, Wall, Phaidon International, Wall Street Locations: Wells Fargo, Hart, Washington ,, New York, . California, U.S, Gilbert . Massachusetts, Oregon, Washington, Massachusetts
London-based BP reported its underlying replacement cost profit, which excludes one-time items and fluctuations in the value of inventories, down from $3.3 billion in the previous quarter. It brought in $13.8 billion for all of last year, a huge drop from the $27.7 billion it earned in 2022, when Russia's war in Ukraine sent oil and natural gas prices surging. Energy prices have since fallen as a weak global economy holds back demand for fossil fuels to power cars, planes, factories and more. Despite the drop in annual earnings, BP kept its dividend steady and said it would buy back $1.75 billion in shares as well as commit to $3.5 billion in additional share buybacks for first half of this year. It's a pressure that the energy industry is facing, with companies like BP and Shell pledging to reach net zero emissions by 2050.
Persons: Murray Auchincloss, , Auchincloss, Bernard Looney, Looney, Joseph Evans, ” Richard Hunter Organizations: , BP, Shell, Exxon Mobil, Institute for Public Policy Research, Locations: Ukraine, London, Spain, Portugal
Amazon — The e-commerce giant popped nearly 7% a day after posting an earnings and revenue beat . Revenue came in at $1.56 billion, topping the consensus estimate of $1.45 billion. The company reported $2.48 earnings per share, while analysts polled by LSEG had expected $2.21 per share. Analysts polled by LSEG expected guidance of $8.9 billion in revenue and earnings of $4.18 per share this year. Cinga also raised its full-year revenue outlook to at least $235 billion, topping the consensus estimate of $228.65 billion, per StreetAccount.
Persons: Amazon's, LSEG, Skechers, , Clorox, Cigna, Cinga, Mattel, Hakyung Kim, Sarah Min, Jesse Pound Organizations: LSEG, Revenue, Myers, Chevron, LSEG . Revenue, Exxon Mobil —, Apple —, Apple, Technology, Journal, Barington, Mattel, Citi, Sea Limited Locations: Bristol, China
Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., February 1, 2024. Here's how big of a surprise corporate profits have been this earnings season: the fourth-quarter is now shaping up to be the best of 2023. Despite ongoing macroeconomic concerns that have hampered demand and weighed on consumer sentiment, almost halfway into earnings season, profits are clearly coming in far better than anybody expected. Helping companies' bottom lines this round: easing input costs; more emphasis on cost controls and efficiencies; and significantly reduced expectations. LSEG, formerly Refinitiv, is now seeing a nearly 8% rise in earnings growth this season.
Organizations: New York Stock Exchange, Apple, Chevron, Exxon Mobil, Merck, Bristol, Myers Squibb, Energy, Tech Locations: New York City, U.S
Still, it posted a healthy adjusted profit and the company raised its quarterly dividend. Exxon earned $7.63 billion, or $1.91 per share, for the quarter. Chevron also reported its financial results Friday, posting a fourth-quarter adjusted profit of $3.45 per share on revenue of $47.18 billion. Wall Street was calling for a profit of $3.29 per share on revenue of $52.59 billion. On Thursday, Shell plc reported an adjusted profit of $2.22 for the fourth quarter, with revenue totaling $80.13 billion.
Persons: Chevron, Organizations: Exxon Mobil's, Revenue, Zacks Investment Research, Exxon, Denbury Resources, Natural Resources, Federal Trade Commission, Hess Corp, Chevron, Shell plc, Analysts, Hamas, U.S Energy Information Administration Locations: California, , Texas, premarket, San Ramon , California, Saudi Arabia, Russia, Israel
Oil Giants Pump Their Way to Bumper Profits
  + stars: | 2024-02-02 | by ( Stanley Reed | )   time to read: +1 min
The companies’ earnings were down from the bonanza year of 2022, when a surge in prices pushed up profits, but were otherwise the strongest in recent history. Exxon earned $7.6 billion in the fourth quarter of 2023, a 40 percent fall from the same period in 2022. For all of 2023, the company reported $36 billion in earnings, compared with $55.7 billion in 2022. Chevron reported earnings of $2.3 billion in the fourth quarter, down from $6.3 billion a year earlier. For the year, the company made $21.4 billion, down from $35.4 billion in 2022 but, like Exxon, otherwise its biggest annual profit in a decade.
Organizations: Exxon Mobil, Chevron, Exxon Locations: California
Exxon Mobil reported quarterly earnings that beat Wall Street's expectations, but the company's profit declined significantly from same period the year prior as oil prices weakened. The company returned $32.4 billion to shareholders in 2023 through $14.9 billion in dividends and $17.4 billion in share buybacks. Excluding those charges, Exxon earned $2.48 per share, beating Wall Street's expectations of $2.21 per share. Exxon's profits from its oil and gas segment declined to $4.1 billion in the quarter, down 49% compared to the $8.2 billion reported in the year ago period. Exxon produced 3.73 million oil equivalent barrels per day in 2023, largely flat compared to the year prior.
Persons: Brent Organizations: Exxon Mobil, Exxon, LSEG, West Texas Intermediate, Natural Resources Locations: Washington , DC, California, U.S, Guyana
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailExxon Mobil CEO Darren Woods on Q4 earnings: Another step in improving the business and companyExxon Mobil chairman and CEO Darren Woods joins 'Squawk Box' to discuss the company's quarterly earnings results, which reported an earnings beat but falling short on revenue expectations, impact of Guyana-Venezuela dispute, and more.
Persons: Darren Woods Organizations: Exxon Mobil Locations: Guyana, Venezuela
British oil giant Shell on Thursday beat expectations for full-year profit, announcing a 4% increase to its dividend and a $3.5 billion share buyback program. Shell reported adjusted earnings of $28.25 billion for the full-year 2023, a 29% drop compared to its highest-ever annual profit of $39.9 billion the year prior. Analysts had expected Shell's full-year 2023 net profit to come in at $27.5 billion, according to an LSEG-compiled consensus. Shell announced a 4% increase in dividend per share for the fourth quarter and said a share buyback program of $3.5 billion will be carried out over the next three months. The firm added it had now completed another $3.5 billion of share buybacks announced in November last year.
Persons: Shell, Wael Sawan, Sawan, Brent Organizations: Shell, Brent, U.S, West Texas Intermediate, Exxon Mobil, Chevron, BP Locations: Nakuru, Kenya, British, London, Singapore
On the other hand, Dow Jones Industrial Average futures hovered near the flatline. The Dow Jones Industrial Average added 0.97%, while the S&P 500 and Nasdaq Composite respectively gained 1.25% and 1.3%. The action follows a Wednesday sell-off that started after Federal Reserve chair Jerome Powell indicated that a rate cut at the March meeting was unlikely. Economists polled by Dow Jones are calling for payrolls to have grown by 185,000 positions, and for the unemployment rate to inch higher to 3.8%. That compares to December's blowout of 216,000 positions added and an unemployment rate of 3.7%.
Persons: Jerome Powell, Art Hogan, It's, it's, Hogan, Dow Jones Organizations: New York Stock Exchange, Nasdaq, Dow Jones Industrial, Meta, Facebook, Amazon, Apple, Dow Jones, Federal, Riley Wealth Management, CNBC, Chevron, Exxon Mobil, Myers Squibb Locations: China, mull, Bristol, Cigna
Washington, DC CNN —A slew of economic news this week will make it much clearer if the Federal Reserve will cut interest rates in March. The Labor Department is due to release four crucial assessments of America’s job market, gauging labor demand, wage growth, productivity and hiring. Wages and the Fed on Wednesday: The day after, the Labor Department releases its Employment Cost Index for the fourth quarter, a comprehensive measure of employers’ labor costs. The US Labor Department releases December data on job openings, quits, hires and layoffs. The US Labor Department releases its Employment Cost Index for the fourth quarter.
Persons: that’s, , Christian Scherrmann, Jerome Powell, ” Michael Feroli, , ” Feroli, Powell, Alicia Wallace, Joe Brusuelas, Jerome Powell’s Organizations: CNN Business, Bell, DC CNN, Federal Reserve, Labor Department, DWS, Labor, Survey, Fed, Employers, PCE, Federal, Commerce Department, RSM, Whirlpool, Microsoft, UBS, HCA Healthcare, General Motors, Cleveland Cliffs, Mondelez International, JetBlue Airways, Global, US Labor Department, Board, National Bureau of Statistics, Novo Nordisk, Mastercard, Novartis, Boeing, ADP, Nasdaq, Nomura Holdings, Apple, Shell, Honeywell, Deutsche Bank, Clorox, Quest Diagnostics, United States Steel, Bank of England, P Global, Institute for Supply Management, Exxon Mobil, AbbVie, Regeneron Pharmaceuticals, University of Michigan Locations: Washington, Marathon, Cleveland, Chevron
All three major averages posted gains for the third consecutive week, lifted by solid quarterly earnings and positive economic data. Earnings season ramps up next week, with five of the Super Six mega-cap stocks delivering results. Employment numbers are the most important economic data, with Friday's January nonfarm payrolls report carrying the most weight. The January ISM Manufacturing report on Thursday and December's factory orders report Friday are expected to show the sector still in contraction mode. But earnings and commentary this week from peer Sartorious made us encouraged about a return to growth in 2024.
Persons: nonfarm, December's, Sartorious, We've, Stanley Black, Decker, We're, We'd, Royal Philips, Crane, Woodward, ServisFirst, Cadence Bancorporation, CADE, Johnson, Phillips, Avery Dennison, Columbus McKinnon, Robinson, SIRI, Cardinal Health, Parker, DOV, Pitney Bowes, Ferrari N.V, CSW, COLM, W.W, Grainger, Dwight Co, Jim Cramer's, Jim Cramer, Jim, Tim Cook, Justin Sullivan Organizations: Gross, Procter, Gamble, Gillette, Super, Consumer, JPM Healthcare, Amazon, Microsoft, Honeywell, Aerospace, Solutions, Apple Watch, Masimo, Vision Pro, Franklin Resources, Resource Partners, Bank of Marin Bancorp, Bank7 Corp, Pacific Premier Bancorp Inc, Provident Financial Holdings, Dynex, Cliffs Inc, Nucor Corp, Whirlpool Corp, F5 Networks, Capital Southwest Corp, Harbors Investment Corp, Crane Co, Payne, Equity, Heartland Financial, Cadence, FinWise Bancorp, Five Star Bancorp, PotlatchDeltic Corporation, Sanmina Corporation, Pfizer, General Motors Corp, United Parcel Service, JetBlue Airways Corporation, Smith Corp, Marathon Petroleum Corp, HCA Healthcare, Oshkosh Corporation, SYSCO Corp, Danaher Corp, Johnson Controls, M.D.C . Holdings, Commvault Systems Inc, Hope Bancorp, Hubbell Incorporated, Malibu Boats, Polaris Industries, Inc, Camden National Corp, Cambridge Bancorp, Microsoft Corp, Starbucks Corp, Devices, Electronic Arts Inc, Juniper Networks, Stryker Corp, Lending, Canadian, Canadian Pacific Kansas City Limited, Mondelez, Chubb Corporation, Modine Manufacturing, Partners, Management, Hawaiian Holdings, Manhattan Associates, Unum Group, UNM, Axos, Enova, Boston Properties, Boeing Co, Novo Nordisk, Mastercard Inc, Roper Technologies, Boston Scientific Corporation, MarketAxess Holdings, Fisher, Aptiv PLC, Hess Corp, Nasdaq, United Microelectronics Corp, Rockwell Automation, Teva Pharmaceutical Industries, Ltd, Avery, Avery Dennison Corp, Extreme Networks, Otis Worldwide Corporation, OTIS, Columbus, Columbus McKinnon Corp, Central Pacific Financial Corp, Brinker International, Fortive Corporation, Qualcomm, Technology, Metlife, Hanover Insurance, Barn Holdings, CONMED Corporation, DLH Holdings Corp, Meritage Homes Corporation, Honeywell International, Eaton Corp, Altria, Royal Caribbean Cruises Ltd, Merck, Co, Enterprise Products Partners, Dorian LPG, SiriusXM Holdings, Cardinal, Hannifin Corporation, Allegheny Technologies Incorporated, Tractor Supply Company, Trane Technologies, Dover Corp, Huntington Ingalls Industries, Brunswick Corporation, Dickinson, Canada Goose Holdings, Kirby Corp, WEC Energy Group, WestRock Company, Allegro MicroSystems, Ball Corporation, Broadridge Financial, BrightSphere Investment Group, CMS Energy Corp, Lancaster Colony Corp, Rogers Communications Inc, Sanofi, Apple, Atlassian Corporation, United States Steel Corp, Corp, Adtalem Global, Homes, DXC Technology Company, Eastman Chemical Company, Gen, Post Holdings, America, Columbia Sportswear Company, Exxon Mobil Corp, Chevron Corporation, Myers Squibb Co, CIGNA Corp, Regeneron Pharmaceuticals, Charter Communications, AON, Cboe, Dwight, Banco Santander, Jim Cramer's Charitable, CNBC, Apple Vision, Getty Locations: China, East, United States, Europe, Cleveland, Alexandria, California, Corning, Canadian Pacific, Teradyne, TER, Novo, Hanover, PBI, Skechers U.S.A, Bristol, Chile
Even as the Biden administration, under pressure from environmentalists, hits pause on its approval of a major natural gas export terminal in the United States, it faces another big gas decision overseas. A $13 billion natural gas export project in Papua New Guinea led by TotalEnergies and Exxon Mobil is on a shortlist of projects set to receive financing from the U.S. Export-Import Bank, or Ex-Im, which supports American businesses around the world. The Papua LNG gas project would join a portfolio of oil and gas projects the bank funds, including an oil refinery in Indonesia and an oil tank project in the Bahamas. The bank is also considering financing an offshore pipeline and natural gas plants in Guyana. Some climate activists see a big contradiction between climate actions the government is taking in the United States versus around the world.
Persons: Biden Organizations: TotalEnergies, Exxon Mobil, U.S . Export, Import Bank Locations: United States, Papua New Guinea, Papua, Indonesia, Bahamas, Guyana
Wall Street is headed into the thick of earnings season, with results on deck from the bulk of the so-called Magnificent Seven names. On top of that, the Federal Reserve's latest monetary policy decision and the January jobs report will be in focus. Federal Reserve meeting Investors aren't anticipating much out of the Fed meeting next week. Market participants say recent reports show the trends have been going in the right direction, and Friday's report is expected to confirm the softening in the jobs market. Other significant earnings in the week ahead include Boeing , a major Dow component.
Persons: Russell, we've, Shannon Saccocia, Jonathan Krinsky, Tesla, that'll, Hogan, you've, John Bailer, Jerome Powell, Tony Welch, Welch, FactSet Organizations: Microsoft, Nvidia, Dow Jones Industrial, Nasdaq, Dow, JPMorgan, Riley Securities, Newton Investment Management, Fed, PCE, Boeing, Alaska Airlines, Dallas, Whirlpool, Petroleum, United Parcel Service, General Motors, Pfizer, Devices, ADP, ECI Civilian Workers, Chicago PMI, Mastercard, Qualcomm, Labor, PMI, Manufacturing, Apple, Chevron, Exxon Mobil Locations: Thursday's, nonfarm payrolls, Chicago, Royal Caribbean, Michigan
Tuesday's analyst calls include upgrades to two solar names and a downgrade to a key crypto stock. 7:05 a.m.: Citi increases Meta price target ahead of earnings Meta shares have more runway ahead, according to Citi. Analyst Kenneth Worthington downgraded the crypto exchange to underweight from neutral, reiterating his price target of $80. Analyst Jordan Levy upgraded Sunnova to buy from hold and raised his price target to $18 from $10. He upgraded Enphase Energy to buy from hold, moving his price target to $145 from $85.
Persons: Truist, Ronald Josey, Josey, — Pia Singh, TD Cowen, Jason Gabelman, Gabelman, Jefferies, Glen Santangelo, Teva, Cantor Fitzgerald, C.J, Muse, Kenneth Worthington, Worthington, Coinbase, — Fred Imbert, Jordan Levy, Levy Organizations: CNBC, Enphase Energy, Federal Reserve, JPMorgan, Citi, Meta, Exxon, Chevron, Cowen, Exxon Mobil, Teva Pharmaceuticals, Jefferies Investors, pharma, mdc, Nvidia, Energy, Sustainability Locations: buybacks, Teva, Monday's
Exxon Mobil is suing two activist investors to prevent their proposal calling for emissions cuts at the oil giant from going to a vote of shareholders. In a complaint filed in U.S. District Court for the Northern District of Texas on Sunday, Exxon accused the investors, Arjuna Capital and Follow This, of abusing the process for proposing shareholder votes to advance their priorities with votes “calculated to diminish the company’s existing business.”Arjuna filed a proposal in December for a nonbinding resolution that urged Exxon to accelerate its plans to reduce its carbon emissions and expand the scope of the emissions it measures to include its suppliers and customers. Follow This joined in support of the proposal shortly thereafter, according to the complaint. The proposal “does not seek to improve ExxonMobil’s economic performance or create shareholder value,” Exxon said in the complaint, but is instead “constraining and micromanaging” the company’s operations.
Persons: Arjuna, ” Arjuna, Exxon Organizations: Exxon Mobil, Northern, Northern District of, Exxon Locations: U.S, Northern District, Northern District of Texas
ExxonMobil CEO Darren Woods speaks at the Asia-Pacific Economic Cooperation (APEC) Leaders' Week in San Francisco, California, on November 15, 2023. Exxon Mobil filed a lawsuit against U.S. and Dutch activist investors in a bid to stop them from submitting climate proposals during the oil giant's annual shareholder meeting. An Exxon Mobil win in the proceedings could have a chilling impact on future shareholder petitions. The Securities and Exchange Commission, the U.S. financial regulator, has overseen a growing number of environmental and social shareholder proposals during the past two proxy seasons. In an emailed statement, Exxon Mobil said "the breakdown of the shareholder proposal process, one that allows proponents to advance their agendas through a flood of proposals, does not serve the interests of investors."
Persons: Darren Woods Organizations: Economic Cooperation, APEC, Exxon Mobil, U.S, Northern, Northern District of, Arjuna, Securities, Exchange Commission Locations: Asia, San Francisco , California, U.S, Northern District, Northern District of Texas, Massachusetts, Amsterdam
These Seven Tech Stocks Are Driving the Market
  + stars: | 2024-01-22 | by ( Karl Russell | Joe Rennison | )   time to read: +8 min
These Seven Tech Stocks Are Driving the MarketThe S&P 500 is at a new high, and investors have just a handful of stocks to thank for it. Market value of S&P 500 companies These seven companies account for 29% of the S&P 500’s market value Alphabet $1.8 tril. Amgen Linde Qualcomm Intel Pfizer These seven companies account for 29% of the S&P 500’s market value Market value of S&P 500 companies Thermo Fisher Scientific McDonald's Cisco Sys. Berkshire Hathaway UnitedHealth Costco These seven companies account for 29% of the S&P 500’s market value Market value of S&P 500 companies Thermo Fisher Scientific Abbott Labs. Indeed, based on price alone, the seven big tech stocks were not the best performing in the S&P 500.
Persons: Jan, it’s, Berkshire Hathaway Tesla, Health Eli Lilly, Johnson Procter, Netflix Walt Disney, Amgen Linde, Wells, Merck Mastercard Eli Lilly Johnson, Johnson, JPMorgan Chase, Berkshire Hathaway, Wells Fargo Walt Disney Pfizer Amgen, Phillips Goldman, Mastercard Eli Lilly Abbvie Johnson, Chase Organizations: Apple, Meta, Microsoft, Nvidia, Tesla, Berkshire, JPMorgan Chase United, Health, Broadcom Johnson, Gamble Exxon Mobil Home Depot Mastercard Costco Walmart Oracle Merck Accenture, Mobile Wells Fargo PepsiCo Comcast, Intuit, Fisher, Netflix Walt, Netflix Walt Disney Cisco Sys, Verizon Abbott Labs, Amgen, Amgen Linde Qualcomm Intel Pfizer, Cisco Sys, Abbott Labs, Accenture Netflix Linde Intel PepsiCo Oracle Walmart, Wells Fargo Walt Disney Qualcomm, Mobile Comcast Intuit, Verizon, Pfizer, Merck Mastercard, Johnson Nvidia, Visa Exxon Mobil Apple, Broadcom, JPMorgan, JPMorgan Chase Procter, Gamble, Costco, Fisher Scientific Abbott Labs, Cisco Systems Accenture PepsiCo, Netflix Linde Intel Oracle Walmart, Wells Fargo Walt Disney Pfizer, Mobile, Comcast Intuit Verizon Qualcomm Amazon, Merck Uber Tech, P Global American, Phillips Goldman Sachs IBM UPS Honeywell Boeing, Mastercard, Adobe Exxon Mobil Apple, Broadcom Chevron Home, Micro Devices, Chase Procter, Berkshire Hathaway UnitedHealth Bank of America Costco, Royal, General, Amazon, Big Tech, IBM, Exxon, General Electric, & & + + + Locations: Berkshire, Royal Caribbean
Investors may want to look at quality names as the market stalls. In a turbulent environment, traditional market wisdom suggests investors can be best served by having exposure to quality stocks. The average price target implies a gain of 6.2% over the next year, adding to its advance of more than 56% in 2023. Wells Fargo's Michael Turrin recently hiked his price target on Microsoft to $435 per share from $425, seeing an "uplift" driven by artificial intelligence. The average analyst also anticipates a better path ahead, with a price target reflecting an upside of about 24%.
Persons: CMEGroup's, Wells Fargo's Michael Turrin, ResMed, RMD, Peter Low Organizations: Traders, Federal Reserve, CNBC, CNBC Pro, Microsoft, FactSet, Oil, Exxon Mobil, Exxon, Super
For more than a decade, Apple was the stock market’s undisputed king. It first overtook Exxon Mobil as the world’s most valuable public company in 2011 and held the title almost without interruption. On Friday, Microsoft surpassed Apple, claiming the crown after its market value surged by more than $1 trillion over the past year. The change is part of a reordering of the stock market that was set in motion by the advent of generative artificial intelligence. The values of Apple, Amazon, Facebook, Microsoft and Google dwarfed former market leaders like Walmart, JPMorgan Chase and General Motors.
Persons: Apple, JPMorgan Chase Organizations: Exxon Mobil, Microsoft, Apple, Bloomberg, Exxon, Facebook, Google, Walmart, JPMorgan, General Motors
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